Considerations of buying Portugal property
If you dream about biking down a cobblestone street on a warm summer day while breathing in the ocean air, buying property in Portugal - a country with a rich history and culture - is for you.
Low Cost of Living in Portugal
Portugal offers a relatively low cost of living, making it a popular retirement destination among the Europeans.
Lisbon, the country's capital, is ranked 93rd in the 2018 Mercer Cost of Living rankings, much less expensive than cities like Rome, which is placed 46th, or Madrid at 64th.
What is Portugal Golden Visa?
To many overseas investors, the lenient Golden Visa Program is what sets Portugal property apart from real estate in other parts of Europe.
Portugal is the first country in Europe to introduce the Golden Visa, a 5-year residence permit which opens the door to a highly sought after EU citizenship.
The real estate investment required for a Portugal Golden Visa starts at €350,000 for a reduced investment option, much lower than Spain's €500,000.
Return on Investment on Portuguese Property
As sales prices continues to rise in Portugal's booming real estate market, there is no better time than now to invest in Portugal property.
In 2018, the country's house prices increased by 5.39%, up from annual increases of 3.03% in 2017 and 3.85% in 2016, the Global Property Guide citied.
Lisbon's rental prices grew by more than 20%, seeing the world's highest year-on-year rental growth in 2018 according to CBRE.
Porto posted the 4th highest housing price increase (15.6%) worldwide in a report by Knight Frank in 2019.
Algarve topped Lisbon and Porto in terms of sales expectation improvement in a report by the Royal Institution of Chartered Surveyors and Confidencial Imobiliário in 2019.
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